Okay, here's my RalphA story. In mid-December, I decided to buy TOM (Tommy Hilfiger) after doing months and months of research. I get in at 41 and feel pretty good about it. About 10 days later, Ralph recommends to his clients that they short TOM. We're not talking about sell, he's coming out and saying that TOM is a short at this price and he cites a weak XMas season as one of his reasons. TOM immediately plummets to the low to mid-30's. Needless to say, my wife was not very happy with my purchase of TOM at that time.
Five weeks later, TOM reports a blowout quarter citing a very strong XMas season as a reason for their excellent results. TOM, which had recovered from the Ralph-induced selloff (back up to the low 40's), rockets up 7+ points on earnings day to the low 50's. I feel better, my wife feels better, but I wonder what Ralph's clients feel like on this day??? Actually, I'm secretly hoping that this was one of those times that Ralph followed his own advice.
To me, he totally blew the call on TOM, but do ever hear CNBC talking about that? No, all they bring up his one call that made him famous. Well, this latest about-face makes me think even less of him.
Hey, this feels good to vent a bit.
-tk |
